Disruptive Healthcare Purchasing by Self-Insured Employers
Dec 16, 2024
auto_awesome
Donald Trigg, CEO of apree health, and Glenn Tullman, CEO of Transcarent, share their insights on how self-insured employers can reshape healthcare costs and experiences. They dive into innovative purchasing strategies that prioritize consumer empowerment and enhance transparency in the healthcare marketplace. The discussion highlights strategies to tackle the affordability crisis, the role of technology in improving access, and novel models like CB2E2 that promise better care outcomes. Their vision points towards a future where healthcare is truly consumer-driven.
Self-insured employers can significantly improve healthcare affordability and employee satisfaction by utilizing better purchasing tools and strategies.
Empowering consumers with clear information and access to healthcare options can transform the patient experience and reduce costs.
Investing in quality primary care is essential for self-insured employers to manage healthcare costs effectively and enhance employee well-being.
Deep dives
Transforming Healthcare Affordability
The episode discusses how two companies, Apri and Transparent, are addressing the affordability crisis in the U.S. healthcare system, primarily affecting self-insured employers. Don Trigg from Apri emphasizes that traditional healthcare costs are rising well above inflation, leading to dissatisfaction among employees regarding their healthcare experiences. The goal is to provide employers with better tools to achieve more value from their healthcare purchasing, fundamentally shifting the current supply-demand dynamics in favor of the employers. This transformation is essential as it allows for more effective healthcare cost management and improved employee satisfaction in accessing care.
Empowering Consumers in Health Care
Both Trigg and Glenn Tolman from Transparent highlight the need to empower consumers in their healthcare decisions, similar to the ease found in other industries such as travel and transportation. There is an ongoing frustration with the complexity and high costs associated with healthcare, and the podcast suggests that providing consumers with clear information and straightforward access to healthcare options can significantly improve their experiences. For example, Tolman mentions that patients can now compare prices for medical procedures, such as MRIs, before they decide where to go, saving money for both employers and employees. This consumer-centric approach is aimed at removing barriers and making healthcare more efficient and accessible.
The Importance of Primary Care
The value of primary care emerges as a crucial element in managing healthcare costs effectively. The episode conveys that self-insured employers increasingly recognize the necessity of investing in quality primary care to keep their employees healthier and reduce long-term costs. Both companies are developing models that reinforce the significance of primary care and aim to integrate it within their broader healthcare solutions, ensuring appropriate patient management and preventive care strategies. By doing so, they hope to establish a more coordinated healthcare ecosystem that emphasizes early intervention and comprehensive support.
Leveraging Technology for Healthcare Innovation
Technological advancements and data utilization are key themes in the conversation, as both companies leverage digital tools to enhance healthcare experiences for consumers. The episode outlines how Apri and Transparent harness modern technology to provide seamless access to healthcare services, engaging users through app-based platforms that simplify navigation and decision-making processes. These innovations are designed to eliminate inefficiencies in healthcare delivery, allowing for quicker and more affordable service access. The discussions underscore the potential for rapid expansion and scalability within these models, which could revolutionize how employers and their employees interact with healthcare systems.
Anticipating Industry Disruption
As the podcast closes, both Trigg and Tolman make bold predictions about significant changes on the horizon for the healthcare industry within the next few years. They suggest that large organizations will increasingly adopt new technologies and business models that challenge traditional healthcare structures, driven by both the need to cut costs and the demand for better care experiences. This potential disruption is compared to historical industry changes, indicating that the healthcare landscape could undergo a similar evolution to what was seen in other sectors. The discussion reflects an optimistic outlook that not only will these innovations lead to improved healthcare delivery but also foster a more consumer-driven approach overall.
At Cain Brothers’ Annual Private Company Healthcare Conference in New York, Dave Johnson, CEO of 4sight Health spoke with Donald Trigg, CEO of apree health and Glenn Tullman, CEO of Transcarent about the power of self-insured employers to transform the experience and cost of healthcare. Cain Brothers is a division of KeyBanc Capital Markets.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode